Looking at the chart of zcash against the Dollar, price is within a rising wedge pattern. The RSI is grinding up and appears to lack any conviction.
Odds favor a downward move. Targeting the 38% Fib as the first target should a breakout of the pattern occur.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Odds favor a downward move. Targeting the 38% Fib as the first target should a breakout of the pattern occur.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Trade active:
We have the breakout. Manage stops according to your risk appetite.
Trade active:
I've moved stops to BE
Trade closed: stop reached:
Out for breakeven
Comment:
Interesting how it failed to reach the 38% Fib. Sign of strength?